The major factors driving the growth of the
laboratory balances and scales market are the technological advancements in
laboratory balances and scales; increasing research investments and activities
among pharma-biotech companies and CROs; increasingly stringent regulatory
framework for product safety in bio-pharmaceutical industries; implementation
of stringent food safety guidelines; and emerging markets.
The global Laboratory
Balances and Scales Market is projected to reach USD 1.6
billion by 2023 from USD 1.3 billion in 2018, at a CAGR of 3.7%.
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Based on product type, the laboratory
balances market is segmented into micro & ultra-micro balances, top
loading/precision balances, analytical balances, portable/compact balances,
moisture analyzers, and other balances. The analytical balances segment is
expected to account for the largest share of the laboratory balances and scales
market in 2018. The increasing adoption of analytical balances among
biopharmaceutical industries, owing to its procedural benefits (such as
portability, easy to operate, less weighing time, high durability, low cost,
and high precision) is the major factor driving the growth of this market
segment.
Based on product type, the laboratory
scales market is segmented into bench scales, counting scales, compact scales,
and other scales. The bench scales segment is expected to witness high growth
rate in the laboratory scales market in 2018. The increasing adoption of
laboratory scales among bio-pharmaceutical industry due to the procedural
benefits offered by these instruments, such as flow-thru design ensures
protection from liquids, touchless sensors, minimum stabilization time, ease of
handling, and fast measurement time is the major factor driving the growth of this
market segment.
Based on end user, the laboratory balances
and scales market is segmented into pharmaceutical, cosmeceutical, and
biotechnology product testing laboratories; chemical and material testing
laboratories; food and beverage testing laboratories; petroleum product testing
laboratories; research laboratories & academic institutes, and other end
users.
The laboratory balances and scales market
is segmented into four regional segments, namely, North America, Europe, Asia
Pacific, and the Rest of the World.
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The major players operating in the
laboratory balances and scales market are A&D Company, Ltd (Japan), Metler
Toledo international, Inc. (US), Sartorius AG (Germany), Shimadzu Corporation
(Japan), PCE Instruments (UK), Kern & Sohn GmbH (Germany), RADWAG Balances
and Scales (Poland), Adam Equipment Co. (UK), Avery Weigh-Tronix, LLC (UK),
Bonso Electronics International, Inc. (China), Essae Group (India), and Gram
Precision S.L (Spain).
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